English version

vat

From Longman Dictionary of Contemporary English
Related topics: Industry
vatvat /væt/ noun [countable] 🔊 🔊 TIa very large container for storing liquids in
Examples from the Corpus
vatRiini who police say strangles his victims and dissolves their corpses in vats of acid.She was denied food and sleep, shocked with electricity and dunked into vats of water until she nearly drowned.Mixing was done in open vats like large domestic food mixers.Along the wall in the back, pickle vats and ceramic elephants rested in crates.Clarets are aged in stainless steel vats or oak casks, and are bottled only when they are considered ready for sale.It was as if Lucie's pride had been purged away by standing in that vat of swirling morning mist.The filter was constructed as shown in the diagram and then stood on the wooden crosspieces on top of the vat.There was an earth floor and two old wooden vats.
Related topics: Tax
VATVAT /ˌviː eɪ ˈtiː, væt/ noun [uncountable] 🔊 🔊 PET (value-added tax) a tax added to the price of goods and services in Britain and the EU
Examples from the Corpus
VATConsider the differential treatment of capital allowances, stamp duty, corporation tax and VAT.How much VAT must you pay?They tell readers nothing about the arguments in favour of the extension of VAT.A pensioner will become eligible to pay VAT on any income above £57.15 per week.If not possible, however, a tenant should try to avoid paying VAT on the contribution.Though schools could reclaim VAT, universities and students could not, nor could parents buying books for children.The Chairman emphasized that VAT is a very serious problem which is being tackled with vigour.
From Longman Business DictionaryVATVAT /ˌviː eɪ ˈtiː, væt/ noun [uncountable]TAX Value-Added Tax; a tax on some goods and services. Businesses pay VAT on most goods and services they buy and if they are over a certain size, charge VAT on the goods and services they sell. At regular periods of time, the total amount of tax paid is taken away from the total amount charged to arrive at an amount that is owed to or by the business. Final customers pay VAT on these goods in shops and on services. VAT is a way of charging tax on the increase in value of goods and services at each stage as they are produced, rather than just on their final selling price to customersOur quotes exclude VAT, currently 17.5%.Some goods and services are zero-rated, which means that no VAT is charged on them. see also ex VAT
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